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Fly News Breaks for August 19, 2019
Aug 19, 2019 | 09:56 EDT
Longbow analyst Alton Stump reiterated an Underperform rating and $60 price target for Restaurant Brands International, saying that based on conversations with Canadian Tim Hortons franchisees, he believes same-store sales were "flattish" to-date in the third quarter, which is below his prior estimate of 1% growth. He thinks a comp miss for Tim Hortons Canada for the third consecutive quarter will be viewed negatively by most investors.
News For QSR From the Last 2 Days
Sep 18, 2019 | 13:01 EDT
A translation of a French language report from The Journal de Montreal said that Restaurant Brands' (QSR) Tim Hortons will stop offering Beyond Meat (BYND) lunch products in Quebec and will only offer them in Ontario and British Columbia, where the chain has received "positive comments." In early afternoon trading, Beyond Meat shares are down 5% to $151.94. Reference Link
Sep 17, 2019 | 10:17 EDT
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Match Group (MTCH) initiated with a Buy at Citi. 2. Restaurant Brands (QSR) initiated with a Buy at Argus. 3. Orchard Therapeutics (ORTX) initiated with a Buy at Guggenheim. 4. Axonics (AXNX) initiated with an Outperform at SVB Leerink. 5. Cellular Biomedicine (CBMG) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.